SAN JOSE, Calif., Feb. 6, 2012 /PRNewswire/ -- Echelon Corporation (NASDAQ: ELON) today announced its Networked Energy Services (NES) smart grid system has won the European Smart Metering Innovation of the Year Award 2012. Presented to Echelon at the Smart Metering UK and Europe Summit in London on January 26, the award recognizes achievements and innovation from smart metering solution providers.
The judges, comprised of utilities and industry experts from a range of companies around Europe, selected Echelon because the company's system has redefined the role of a smart meter to be a collector of valuable statistics essential for maintaining the operational health of the low voltage distribution network, in addition to its traditional role as an automated billing device. With these capabilities, utilities can further reduce operational costs, improve customer satisfaction and prepare for new applications such as renewable energy integration.
"We are honored to receive the Innovation of the Year Award," said Varun Nagaraj, senior vice president of Product Marketing and Management at Echelon. "We were among the earliest companies to recognize that our proven, open standard and multi-application platform could serve as the foundation for a diverse range of applications across the smart grid, such as meter reading, low voltage grid optimization, street lighting, and grid-aware buildings. We thank the judges for recognizing that Echelon is at the forefront of innovation in the smart grid."
Echelon's Smart Grid Solution allows utilities to accurately collect billing data and vital health statistics from the low voltage grid with over 99% field proven reliability. Built on Echelon's proven (deployed in 35 million smart meters), open standard (based on Open Smart Grid Protocol – OSGP) and unique multi-application platform (powered by its Control Operating System – COS), the Echelon Smart Grid Solution is a risk-free choice for utilities looking to modernize their grid.
In Echelon's Smart Grid Solution, each OSGP meter or grid device uses power line (or optional RF) signaling to communicate with its peers in a meshed network. The smart meter and device network share a single IP connection to a utility's WAN backhaul, either through a NES Data Concentrator, Edge Control Node (ECN) or an IP-enabled meter. Each meter or device provides a comprehensive set of energy services when operating within the smart metering system. Some of these services are: automated two-way meter reading, power quality measurements, remote electronic disconnect and local physical reconnect, outage detection and restoration management, blackout and brownout detection, real-time direct load control, and more.
To learn more about the European Smart Metering Award winners, visit http://www.smartmeteringuk2012.com/awards.html.
About Echelon Corporation
Echelon Corporation (NASDAQ: ELON) is the world's leading open standard energy control networking company. Echelon technologies connect more than 35 million homes, 300,000 buildings and 100 million devices to the smart grid, and help customers save 20% or more on their energy usage. With more than 20 years of experience in energy control, Echelon delivers a wide range of innovative solutions to commercial and electric utility customers. More information about Echelon can be found at http://www.echelon.com.
Echelon and the Echelon logo are registered trademarks of Echelon Corporation registered in the United States and other countries. Other product or service names mentioned herein are the trademarks of their respective owners.
This press release may contain statements relating to future plans, events or performance. Such statements may involve risks and uncertainties, including risks associated with market acceptance of Echelon's technology by itself or combined with other applications or offerings; the risk that Echelon's offerings by themselves or combined with other applications or offerings do not perform as designed or do not offer the expected benefits and savings; risks associated with international sales; and other risks identified in Echelon's SEC filings. Actual results, events and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Echelon undertakes no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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